The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-25

the livelieet that is remembered, the
whole list baving declined and rallied
from to 20 per cent. The feeling is
now more confident and II Is ge lerally
thought that the losses are widely
scattered through the country and are
not COL fined to the city as in the
previous psnics. Money is still scarce,
sven at the high rates charged and
this is considered the worst feature Of
the market.
8 p. m.-The market closed firm,
but quiet, at the advance.
The President of the Consolidated
Stock Exchange has announced that
Thomas Murphy, the broker for
whose account 5000 shares OF stocks
were sold under the rule, will settle
all claims in fall.
3:l5 p M-Mr. CyrusW. Field was
Deen in his cffice this afternoon in re-
gard to the rnmor that he and Jay
Gould and Russell Sage had had
falling out, causing the big drop In
stocks today. Mr.. Field appeared to
be very much amused about the re-
port. He said: "There is nothing in
it-not the slightest foundation for
the story. l was down to Mr.. Gould's
office today. We were on the best OF
terms. There is nothing whatever In
it-nothing whatever"
When asked In regard to the drop,
he said. with knowing smile: "Why,
somebody has been selling. that's all"
Further than this he will venture no
exclamation Of the phenomenon.
Regarding the statement that there
had been q falling out between Jay
Gould, Russell Sage and Cyrus Field,
George Gould says: 1T is all @ mis-
take; there has bean nothing between
my father, Mr.. Sage and Mr.. Field cf
q nature other than the most friendly.
1t is al! some trumpsd up scheme Of
some Wall street operators to influ.
ence the market. That their relations
are the most friendly 1 am positive.
The sharp break in the stock market
this morning was undoubtedly caused
by an over amount OF selling by the |
bear crowd and the strinVency in |
money. / think the market is buy |
now on all breaks. At present think |
the long side Is the safe side. But co
far as any falling ont between Mr..
Sage, Mr.. Field and my father having
caused the break, 1t is false"
IT IS ONLY BENEFICIAL.
The following review was isaued by
Henry Clews & Co., today: "The
surge in the market should not have
been unexpected, as every day for a
fortnight or more past we are on re-
cord as predicting just such a backset
as Wall street has now met with. The
effect will be beneficial, however, as it
will, very likely, prevent more seri-
ous settlement. Ii the day OF reckon
ng had been deferred to the crop NOV.
ng season instead of teday, further
'rouble must have resulted here and
elsewhere. The stock market, not
mike that OF the wheat and coffee
markets, is likely to be more or less
'dazed" for several days to come, as
natural sequence of today's shock,
'ccasioned by the heavy losses which
nnumersble operators have met with.
There are too many cripples, we fear,
eft on the field for the survivors to
march over at a quick, active pace on
he way to recuperation. Still, Wal
treet is going TO stay Just where it is,
md will survive this shock and wit.
less many ups and downs in the
uture. The way to make money is
o catch the fluctuations. There has
Undoubtedly been for long time
'ast lack OF fluctuations, showing an
unnatural market Its sluggishness
las been due to that fact. When
tocks wont 60 up the next beat thing
to make them 20 down, to insure
ctivity. They have just been down."
IT REACHED MONTREAL.
CHICAGO. ILL, June pa special to
heDaity Meps from Montreal saya: The
took market Is panicky this morning,
aused by the suspension of McIver
Barclay, who have been long in the
,ading stocks. The losses are said to
Q 100000, but the liabilities CT the
tock exchange is small.